Category Archives: Business plan

Is Your Small Business Worth Anything?

In my discussions with hundreds of small business owners, the conversation inevitably turns to the value of their small business. Unfortunately, and far too often, the business owner has no idea why the business has little or no value. Here’s an example (names and details changed to protect the guilty). Small business owners, Mark and […]

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Top 5 things you can do in 2010 to increase the value of your small business

Big improvements often come from small changes. What could you do in 2010 to build the value of your small business? Get professional small business accounting advice and follow it! Get your books set up in a way that makes your profit/loss statement a tool to run the business not just a piece of paper. […]

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All Small Business Owners will Leave Their Business – I Guarantee it!

The question is, will you leave your small business the smart way or leave it the dumb way? Having an exit plan for your business is smart. A formal plan will look at your options, devise efficient tax strategies and create an estate plan that eliminates any disputes that might result if you suddenly passed […]

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Good article on why you need to do more than cost cutting

As the saying goes……a small business can’t save it’s way into prosperity. Here’s an article on how to focus on the things that will help your small business succeed in good times and bad. CLICK HERE

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Is 2010 the year you make your small business work for you?

If you own a small business, or considering starting or buying a small business, this article could give you a path to make your life as a small business owner more enjoyable. Let this be the year you finally change your relationship with your business. It will be difficult, you have habits and assumptions that […]

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The Myth of….. “If I had more capital I could grow faster and be really, really profitable.”

Here’s a request we often hear from small business owners: “Can you find me an investor? If we had more capital we could grow like crazy and make a ton of money!” My next question to the business owner is “What would you do with $100,000 if someone wrote you that check today?” Wow, you […]

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Small Business owners need to build and preserve wealth

Here’s a good book to help you understand what it takes and an option for protecting the value of your business once you’ve created value from your business. It’s worth the time if you’re serious about your business. Click here

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Steps to Starting a Small Business in a Difficult Economy…Part 2

In Part 1 Steps to Starting a Small Business in a Difficult Economy I gave you 6 things to nail down before starting or buying a small business. Assuming you’ve done your homework on those 6 items (or more likely you’ve probably decided to ignore at least 4 of the 6) it’s time to move […]

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Hidden Costs of Doing Things You Shouldn’t Be Doing

Outsourcing is a much discussed topic but I rarely see it focused on the primary strategic issues facing a small business owner. What I too often see is “Outsource and save money”. This is rarely true. However, what I think the outsourcing industry should market is….”Outsourcing = spend more money and make even more money.” […]

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Should you have your small business books audited?

For the vast majority of businesses with revenues under $2,000,000 the answer is no. Unless, you have external requirements from bonding company, shareholders, finance companies, etc. However, even if you don’t have those direct external requirements for Audited financials you should have your books at least “Reviewed” by an independent CPA. A Review is not […]

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